US Stocks End Higher With Walt Disney, J.C. Penney Gaining

AnjaliCordeiro

NEW YORK (MarketWatch) -- Stocks climbed amid some better-than-expected earnings reports, with Walt Disney propelling the Dow Jones Industrial Average higher and retailer J.C. Penney getting a boost from investors.

The gains in the stock market came despite reports showing a decline in U.S. consumer sentiment in November and a widening of the trade deficit in September.

Art Hogan, chief market analyst at Jefferies & Co., said reports from some retailers on Friday showed better-than-expected activity by consumers, catching the market by surprise. Also, equity investors have begun hoping for a pickup in mergers and acquisitions amid a spurt of deal making in the technology sector, he said. "M&A is likely to go up and that is being priced in, " said Hogan.

The Dow Jones Industrial Average rose 73 points, or 0.72%, to 10270.47, up 2.46% for the week. The Nasdaq added 18.86, or 0.88%, 2167.88, up 2.6% for the week. And the Standard & Poor's 500 index rose 6.24, or 0.57%, to 1093.48, up 2.26% for the week.

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